From investor interest to the internet of things, the creation of jobs and cryptocurrencies, and of course revenue, profits, taxes… 2017 has been a huge year for the the legal cannabis industry. There hasn’t been a development of a “new” industry like this since the repeal of alcohol prohibition in 1933! We’ve picked 4 great articles to illustrate this growth from different angles.
1) Bloomberg gets on bullish pot stocks
Bloomberg Markets analyzes the recent trends in the stock market as California gears up for the first day of legal recreational marijuana: Jan 1, 2018. Canadian cannabis stocks went on an extended rally, cross-border cooperation is on the rise, and more mergers & acquisitions are expected for 2018. Read Full Article →
2) VCs are seeing the green light to go via financial times
The Financial Times discusses the rise of cannabis-focused investment firms in the US. At the center of the article is firm Casa Verde Capital and its portfolio companies. Snoop Dogg himself is one of the firm’s founding partners. None of their investments touch the plant, and all have the potential to scale unrestricted by local licenses and regulations. Read Full Article →
3) States are seeing cannabis taxes as a revenue machine
Forbes discusses the astronomical revenues states are making from cannabis retail sales, how they’re being used, and why they are “addictive to state governors”. Cannabis tax revenues have become entrenched in state budgets, especially with cuts in federal funding for state programs. Read Full Article →
4) The cannabis job market may be one of the fastest growing sectors
Business Insider dives into the cannabis industry job market, present and future. The article combines data from multiple sources to present a holistic snapshot, contrasted with the declining job market in the manufacturing industry. The legal cannabis market is expected to create over a quarter of a million jobs by 2020. Read Full Article →